HPM Partners LLC reduced its stake in Noble Energy, Inc. (NYSE:NBL) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,486 shares of the oil and gas development company’s stock after selling 4,834 shares during the period. HPM Partners LLC’s holdings in Noble Energy were worth $801,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in NBL. American Century Companies Inc. grew its holdings in shares of Noble Energy by 3.8% during the fourth quarter. American Century Companies Inc. now owns 8,726,274 shares of the oil and gas development company’s stock valued at $254,284,000 after buying an additional 321,942 shares during the last quarter. Jennison Associates LLC raised its position in Noble Energy by 3.5% in the fourth quarter. Jennison Associates LLC now owns 8,365,528 shares of the oil and gas development company’s stock worth $243,771,000 after acquiring an additional 286,126 shares during the period. Artisan Partners Limited Partnership raised its position in Noble Energy by 1.7% in the third quarter. Artisan Partners Limited Partnership now owns 7,172,711 shares of the oil and gas development company’s stock worth $203,418,000 after acquiring an additional 121,877 shares during the period. Geode Capital Management LLC raised its position in Noble Energy by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 5,235,837 shares of the oil and gas development company’s stock worth $152,254,000 after acquiring an additional 140,886 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Noble Energy by 7.4% in the fourth quarter. OppenheimerFunds Inc. now owns 4,399,822 shares of the oil and gas development company’s stock worth $128,211,000 after acquiring an additional 302,201 shares during the period. 95.64% of the stock is owned by institutional investors.
In other news, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the sale, the chief financial officer now directly owns 197,144 shares in the company, valued at $5,677,747.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Craddock sold 8,500 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the sale, the director now owns 93,413 shares of the company’s stock, valued at $2,928,497.55. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.
NBL has been the topic of several recent research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $41.00 price target on shares of Noble Energy in a research report on Tuesday, January 9th. Royal Bank of Canada set a $36.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research report on Wednesday, December 20th. Jefferies Group upgraded shares of Noble Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, December 20th. Seaport Global Securities upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Stifel Nicolaus set a $42.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $40.48.
NBL stock traded up $1.59 during mid-day trading on Wednesday, hitting $30.84. 3,778,058 shares of the stock traded hands, compared to its average volume of 5,541,555. The stock has a market cap of $14,165.29, a P/E ratio of -12.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. Noble Energy, Inc. has a fifty-two week low of $22.99 and a fifty-two week high of $35.74.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.28. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. equities analysts forecast that Noble Energy, Inc. will post 0.89 earnings per share for the current year.
Noble Energy announced that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, February 9th. Noble Energy’s dividend payout ratio (DPR) is presently -16.74%.
Noble Energy Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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